Texas home prices hit all-time high

Texas home prices hit an all-time high in the second quarter of 2015, while home sales remained strong amid high demand, according to the 2015-Q2 Texas Quarterly Housing Report released today by the Texas Association of Realtors.

"The impact of lower oil prices continues to be delayed, leading to a surprisingly strong second quarter. In fact, Texas home sales are actually stronger than they were this time last year, when oil prices were nearly $100 a barrel," said Scott Kesner, chairman of the Texas Association of Realtors. "This is further evidence of the strong and enduring demand for Texas real estate."

According to the report, Texas home sales increased 46.3 percent from 2015-Q1 and 4.7 percent year-over-year to 88,906 home sales.